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Mortgage Market Update
My Mortgage Company
Angela Sanchez
Friday, November 6, 2026
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Does a rate drop make your home worth more? |
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Rates have been on a lot of people's minds lately. But there's another side to falling rates that deserves attention.
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National Mortgage Rates · November 4, 2026
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Conventional 30-Year
7.12%
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Source: Optimal Blue daily mortgage indices via FRED
Rates shown are national mortgage index rates and are provided for informational purposes only. Actual rates vary based on credit profile, loan amount, and market conditions. Please contact us for a personalized rate quote.
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Equity Building
What happens to your equity when rates drop
One of the best parts of homeownership is that every payment builds equity—the difference between what your home is worth and what you owe. But equity isn't just about paying down your loan. When rates fall, your home's value often rises, which means your equity grows even faster. If that happens, you may have new options: refinancing to a better rate, tapping that equity for a major project, or simply watching your net worth climb. It's worth checking in on where you stand and what possibilities might open up for you. Let's talk about your equity and what it could mean for your next move.
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Tip of the Week
Closing costs typically run 2-5% of the loan amount. Ask your lender for a Loan Estimate so there are no surprises.
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Tips for Homeowners
Protecting Yourself from Mortgage Scams
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1.
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Wire fraud is one of the fastest-growing real estate scams. Never wire closing funds based solely on email instructions — always verify account numbers by calling your title company at a number you look up yourself.
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2.
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Loan modification and foreclosure rescue scams target homeowners in distress. Legitimate help is available free through HUD-approved counseling agencies at 800-569-4287.
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3.
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Be wary of unsolicited offers to refinance or cash out equity at terms that sound unusually favorable. If someone contacts you out of the blue, verify their NMLS license number at nmlsconsumeraccess.org.
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Have questions about how any of this affects your mortgage or home purchase? We're here to help — reach out to the My Mortgage Company team any time and we'll walk you through your options. |
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Your Mortgage Advisor
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My Mortgage Company
Angela Sanchez
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